BC Advantage - 2005 Issue 12

Spiraling Out of Control: 5 ways to Reduce Workers' Compensation Claims

One-third of small business owners have identified workers' compensation costs as a critical business challenge.One of the biggest expenses affecting small businesses is workers' compensation insurance, which covers expenses associated with injuries to employees while on the job. In fact, 33 percent of small business owners identified workers' compensation as a critical problem in 2004, according to the National Federation of Independent Businesses (NFIB).Workers' compensation includes medical bills, as well as payment for lost time and for any permanency of injuries. Coverage is required by all states and rates vary. In 2004, rates ranged from 5 percent...

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